November 14, 2019

Consolidated Financial Results
for the Six months Ended September 30, 2019
[Japanese GAAP]
Company name:
Oisix ra daichi Inc.
Securities code:
3182
Representative:
Kohey Takashima, Representative Director, CEOContact:
Hajime Yamanaka, Corporate Officer, Administration
Scheduled date of filing of Quarterly Report:
Scheduled date of payment of dividend:
Preparation of supplementary materials for financial results:
Holding of quarterly financial results meeting:Stock exchange listings: TSE Mothers
URL: http://www.oisixradaichi.co.jp

November 14, 2019
YesYes(All amounts are rounded down to the nearest million yen)

1. Consolidated Financial Results for Three Months ended September 30, 2019(from April 1, 2019 to September 30, 2019)(1) Consolidated Operating Results
Three months ended(% of change from previous year)

Net Sales

Operating Income

Million yen%

Million yen

32,552
31,720

2.6
67.5

900
1,115

September 30, 2019
September 30, 2018 *2Net Income
Attributable to Ownersof the Parent*3

EBITDA*1%

Million yen%

Million yen%

1,348
1,513309 million yen (△65.5%)894 million yen (854.9%)△10.9
138.1390893△56.3856.2△19.3369.5

Comprehensive income: 2nd Quarter of FY2019 (As of September 30, 2019)
2nd Quarter of FY2018 (As of September 30, 2018)(Note)*1. EBITDA stands for earnings before depreciation and amortisation.
*2. The result for the 2Q on FY2018 include the 7-month profits and losses (from March 1 to September 30, 2018) of Radish Boya Co., Ltd. (fiscalyear end is February, absorption-type merged in October 2018). Comparing the results for the 2Q on FY2019 with the result for 6-monthperiod excluding the profit and loss of Radish Boya Co., Ltd. in March 2018, net sales increased by 8.1%, operating income decreased by 13.9%,
EBITDA decreased by 6.6%, and net income attributable to owners of the parent decreased by 52.5% rom the previous year.
*3. Net income attributable to owners of the parent for the same period of the previous fiscal year was increased than normal compared tooperating income due to special factors such as the restrained amount of expenses for income taxes in Radish Boya Co., Ltd.

Three months ended

Net Income perShare

September 30, 2019
September 30, 2018

Diluted NetIncome per Share

Yen

Yen

11.53
26.83

11.44
26.39

(2) Consolidated Financial Position
Period ended

September 30, 2019
March 31, 2019

Total Assets

Shareholders’Equity Ratio

Net Assets

Million yen

Million yen%

24,64022,74913,61912,50555.2
54.8

2. Dividends
Fiscal Year ended or ending

Dividend per Share
1Q

March 31,2019
March 31,2020

2Q

3Q

Year-end

TotalYen

Yen

Yen

Yen

Yen

――0.00

―0.00

0.00

0.00

―

0.00

0.00

March 31,2020 (Forecast)(Note)
Revisions to the most recently announced forecast: None13. Forecast for the Fiscal Year Ending March 31, 2020 (from April 1, 2019 to March 31, 2020)(Percentages represent year-on-year changes)

Net Sales
Million yen

Full year

70,000Operating Income

EBITDANet Incomeper ShareNet Income%Million yen%

Million yen%

Million yen%

Yen

9.3

2,200

△4.9

3,200

1.4

1,000

△58.1

29.77

(Note)*1.Revisions to the most recently announced forecast: None
*2.EBITDA stands for earnings before depreciation and amortisation.

* Notes(1) Changes of important subsidiaries during the period(Changes of specific subsidiaries in accordance with changes in the scope of consolidation):

Yes

Newly consolidated: Two company
Future Food Fund Co., Ltd. , Three Limes,Inc (hereafter Purple carrot)
Oisix Inc., a subsidiary of the Company, acquired all the shares of Purple Carrot. Accordingly, Purple Carrot has been
included in the scope of consolidation from the first half of the fiscal year under review. In addition, Future Food FundCo., Ltd., which was newly established during the second quarter of the fiscal year under review, was included in thescope of consolidation.
Fiscal year of Purple Carrot ends on Dec 31, and the difference between the fiscal year-end and the consolidated
fiscal year-end is 3 months or less.

Therefore, the quarterly consolidated financial statements of the Company areprepared based on the quarterly financial statements of Purple Carrot. As the deemed acquisition date is Jun 30, 2019,
and the difference between the deemed

acquisition date and the quarterly consolidated closing date 3 months or less,only the balance sheet was consolidated in the second quarter of the fiscal year under review.
Fiscal year-end of Future Food Fund Co., Ltd., is the same as that of the Company.

(2) Adoption of specific accounting treatments to the preparation of consolidated quarterly
financial statements:

None(3) Changes in accounting policies and accounting estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards:

None2) Changes in accounting policies other than 1) above:None3) Changes in accounting estimates:

None4) Restatements:

None(4) Number of shares issued (common shares)
1) Number of shares issued (including treasury stock):
As of September 30, 201934,235,668shares

As of March 31, 201933,595,156shares

2) Number of treasury stocks:
As of September 30, 2019

3,780shares

As of March 31, 2019

3,780shares

3) Number of average shares during the period:
Three months ended September 30, 201933,871,591shares

Three months ended September 30, 201833,316,155shares(Note)On October 1st, 2018, the Company implemented a 2 for 1 stock split of common shares. For the previous consolidated accounting year, said
stock split is assumed to have occurred at the beginning of that accounting year for the purposes of calculating comparable Number of sharesissued, Number of treasury stocks and Number of average shares during the period.

* This financial report is outside the scope of the audit by certified public accountants or auditing firms.
* Explanation of the proper use of forecast and other notes
The forward-looking statements herein are based on information available to the Company and certain assumptions deemed
reasonable as of the date of publication of this document. They are not intended as the Company’s commitment to achieve suchforecasts, and actual results may differ significantly from these forecasts due to a wide range of factors.

2

Consolidated Financial Statements(1) Consolidated Balance Sheet(Thousands of yen)
As of March 31, 2019

As of September 30, 2019

AssetsCurrent assets
Cash and deposits

8,136,173

7,133,064

Accounts receivable-trade

5,555,456

5,747,875

Merchandise and finished goods

1,173,552

1,410,458

Work in process

45,07731,347

Raw materials and supplies

184,228

209,944

Accounts receivable-other

1,308,693

1,419,884

394,685

415,226

Allowance for doubtful accounts△196,069△204,452

Total current assets

16,601,798

16,163,349

1,007,751

1,392,143

Goodwill

1,137,486

3,157,494

Others1,009,106

1,205,767

Total intangible assets

2,146,592

4,363,262

2,993,343

2,722,105

OthersNoncurrent assets
Property, plant and equipment
Intangible assets

Investments and other assets
Total noncurrent assets
Total assets

3

6,147,686

8,477,510

22,749,485

24,640,860

(Thousands of yen)
As of March 31, 2018

As of September 30, 2019

Liabilities
Current liabilities
Accounts payable-trade4,240,280

4,516,179

9,552

7,787

Accounts payable-other

3,649,938

4,332,995

Income taxes payable

255,659

206,583

Provision for bonuses-1,336

145,468

164,047-

10,351Others

1,149,101

999,088

Total current liabilities

9,450,000

10,238,368

Long-term loans

53,40450,398

Lease obligations

42,28933,349Provision for directors' retirement benefits

4,500

5,100

Short-term loans payable

Provision for points certificates
Asset retirement obligations

Noncurrent liabilities

Retirement benefit liabilities-1,559Asset retirement obligations

296,218

299,162

Others397,852

393,060

Total noncurrent liabilities794,264

782,629

10,244,264

11,020,997

Capital stock

1,284,022

1,686,997

Capital surplus

5,298,392

5,700,778

Retained earnings

5,897,781

6,288,204△2,800△2,80012,477,395

13,673,178

Total liabilities
Net assets
Shareholders' equity

Treasury stocks
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities

3,284△5,172Foreign currency translation adjustments△8,274△76,301

Total accumulated other comprehensive income△4,989△81,473

32,81528,157

12,505,220

13,619,862

22,749,485

24,640,860

Non-controlling interests
Total net assets
Total liabilities and net assets

4(2) Consolidated Statement of Income(Thousands of yen)
Period ended
September 30, 2018

Period ended
September 30, 2019

Net sales

31,720,279

32,552,394

Cost of sales

16,651,328

17,195,058

Gross profit

15,068,950

15,357,336

Selling, general and administrative expenses

13,953,539

14,456,705

Operating income

1,115,411

900,630

Interest income

94900

Dividend received

4,235

0

Compensation income

6,940

6,255

Others39,78024,273

Total non-operating income

51,051

31,430Interest expenses

958

874

Stock issuance cost

472

853

Non-operating income

Non-operating expenses

Foreign exchange losses

1,084

8,924

Liabilities from application of equity method

22,447

172,761

Others

2,837

5,191

Total non-operating expenses

27,800188,605

1,138,662

743,456

Gain on sales of investments in affiliated companies

3,123

-

Total extraordinary Income

3,123-

40,159-Ordinary income
Extraordinary Income

Extraordinary loss
Cancellation charges of facility leasing arrangements
Total extraordinary loss

40,159-

Income before income taxes

1,101,626

743,456

Income taxes-current

236,697

141,289

Income taxes-deferred△31,485

216,401

Total income taxes

205,212357,691

Net income

896,414385,764

Net income attributable to non-controlling interests
Net income attributable to owners of the parent

52,661△4,658893,752

390,422

(3) Consolidated Statement of Comprehensive Income(Thousands of yen)
Period ended
September 30, 2019

Period ended
June 30, 2018
Net income

896,414385,764△511△2,312△1,669△68,026-△6,144△2,180△76,483

894,233

309,280

891,572

313,939

2,661△4,658Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Share of other comprehensive income of companies
accounted for by the equity method
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable toOwners of the parent
Non-controlling interests6